Biobased Films Companies Market Position Advancements, Value Creation, Cross-border Expansion, Patent Expansions, Financial Performance Evaluation

Biobased Films Key Players and their Developments

The global biobased films market size to hit USD 12.59 billion by 2034, growing from USD 4.44 billion in 2024. Europe held substantial market share in 2023 and Asia-Pacific is the fastest-growing region due to the expanding food packaging needs, rapid industrialization along with the increasing awareness of the eco-friendly materials in countries like China, India and Japan.

Recent Developments by Key Market Players

• In October 2024, Teijin Frontier Co., Ltd. revealed that its BIOFRONT polylactic acid (PLA) resin, which biodegrades more quickly in soil, rivers, and oceans is now available worldwide. The polymer's rate of decomposition can be accelerated by adding a new biodegradation accelerator without appreciably sacrificing its strength, crystallinity, or moldability. Named to represent advanced biotechnology, this resin is currently completely marketed both domestically in Japan and abroad.
• In August 2024, BASF declared a transparent biotransformation of their (Meth) Acrylate portfolio and a shift to bio-based Ethyl Acrylate (EA) production. With a minimal Product Carbon Footprint (PCF1) and a 40% 14C-traceable bio content in accordance with DIN EN 16640, BASF's bio-based EA assists clients globally in achieving their sustainability objectives. When compared to fossil-based EA, the solution offers a PCF reduction of about 30%. BASF provides bio-based Ethyl Acrylate BMB ISCC Plus in addition to standard bio-based EA.
• In September 2023, The Mitsubishi Chemical Group (the MCG Group) disclosed that the newly redesigned pouches for EN TEA's teabags now contain their innovative bio-based compostable polymer, BioPBS, in both the zipper closure and the sealant layer. BioPBS is a biodegradable polymer that is biobased. It is naturally broken down by microbes into carbon dioxide and water. Known for its remarkable flexibility and low-temperature heat sealability, BioPBS has a wide range of uses, mostly as a food product packaging material.

Biobased Films Market Players

• BASF SE
• Mitsubishi Chemical Corporation
• Novamont S.p.A.
• Teijin Frontier Co., Ltd.
• Fedrigoni S.P.A.
• BioBag
• Taghleef Industries
• CJ Biomaterials
• Gruppo Fabbri
• Bio-on SpA.
• RTG Films

Biodegradable Film U.S. Import Data (November 2024)